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AASB 116 Property, Plant and Equipment

What is AASB 116 Property, Plant and Equipment?

The Australian adoption of IAS 16: when the cost of a tangible operating asset is recognised, what makes up its cost, the choice between the cost and revaluation models for each class, component depreciation and the review of useful lives, residual values and methods, derecognition and the gain or loss on disposal, and the disclosures by class, with the not-for-profit modifications for below-market acquisitions and class-based revaluation accounting. It comprises 17 controls organised across 6 domains, and applies in Australia.

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Where AASB 116 Property, Plant and Equipment overlaps with the standards you already hold

AASB 116 Property, Plant and Equipment vs ISO 27001:2022View comparison →AASB 116 Property, Plant and Equipment vs SOC 2View comparison →AASB 116 Property, Plant and Equipment vs NIST CSF 2.0View comparison →AASB 116 Property, Plant and Equipment vs GDPRView comparison →AASB 116 Property, Plant and Equipment vs HIPAAView comparison →AASB 116 Property, Plant and Equipment vs PCI DSS 4.0View comparison →

What AASB 116 Property, Plant and Equipment means in your sector

AASB 116 Property, Plant and Equipment for Healthcare→AASB 116 Property, Plant and Equipment for Financial Services→AASB 116 Property, Plant and Equipment for Technology→AASB 116 Property, Plant and Equipment for Government→AASB 116 Property, Plant and Equipment for Manufacturing→AASB 116 Property, Plant and Equipment for Energy→AASB 116 Property, Plant and Equipment for Retail→AASB 116 Property, Plant and Equipment for Education→

What AASB 116 Property, Plant and Equipment means for your job

AASB 116 Property, Plant and Equipment for CISOs→AASB 116 Property, Plant and Equipment for Compliance Officers→AASB 116 Property, Plant and Equipment for Risk Managers→AASB 116 Property, Plant and Equipment for IT Directors→AASB 116 Property, Plant and Equipment for DPOs→AASB 116 Property, Plant and Equipment for Auditors→

Questions people ask about AASB 116 Property, Plant and Equipment

What is AASB 116 Property, Plant and Equipment?
The Australian adoption of IAS 16: when the cost of a tangible operating asset is recognised, what makes up its cost, the choice between the cost and revaluation models for each class, component depreciation and the review of useful lives, residual values and methods, derecognition and the gain or loss on disposal, and the disclosures by class, with the not-for-profit modifications for below-market acquisitions and class-based revaluation accounting.
How many controls does AASB 116 Property, Plant and Equipment have?
AASB 116 Property, Plant and Equipment contains 17 controls organized across 6 domains.
Where does AASB 116 Property, Plant and Equipment apply?
AASB 116 Property, Plant and Equipment applies in Australia. Organizations operating in or serving customers in this jurisdiction should check whether its requirements reach them.
Which version of AASB 116 Property, Plant and Equipment is covered here?
This page covers Compiled AASB 116 Property, Plant and Equipment, Compilation No. 6, Authorised Version F2023C00192 registered 13 February 2023 (compilation date 31 December 2022; incorporating amendments to 15 December 2022; applies to annual periods that begin from 1 January 2023); principal Standard F2015L01572 made 7 August 2015.

Query AASB 116 Property, Plant and Equipment programmatically

AASB 116 Property, Plant and Equipment, its 17 controls and every mapping into other standards are available over a REST endpoint and an MCP server, so an agent can read them directly. The free tier is 10 calls a day and needs no signup.

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Written and maintained by Gerard Blokdyk, The Art of Service.Last updated .